Invesco Ltd. grew its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,621 shares of the company's stock after buying an additional 12,521 shares during the period. Invesco Ltd. owned 0.32% of Phillips Edison & Company, Inc. worth $14,745,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in Phillips Edison & Company, Inc. by 0.8% in the 4th quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after acquiring an additional 290 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Phillips Edison & Company, Inc. by 0.3% in the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock valued at $4,811,000 after purchasing an additional 344 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Phillips Edison & Company, Inc. by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock valued at $756,000 after purchasing an additional 510 shares during the period. KBC Group NV lifted its stake in shares of Phillips Edison & Company, Inc. by 13.4% during the 4th quarter. KBC Group NV now owns 4,424 shares of the company's stock worth $166,000 after buying an additional 522 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 0.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 67,697 shares of the company's stock worth $2,536,000 after buying an additional 568 shares during the period. 80.70% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on PECO. Mizuho lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.
View Our Latest Research Report on PECO
Phillips Edison & Company, Inc. Stock Performance
Shares of NASDAQ PECO traded down $0.29 during midday trading on Friday, reaching $34.93. The company's stock had a trading volume of 344,343 shares, compared to its average volume of 702,809. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The business's 50 day moving average price is $35.59 and its two-hundred day moving average price is $36.92. The company has a market cap of $4.37 billion, a P/E ratio of 70.00, a P/E/G ratio of 1.70 and a beta of 0.57.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 246.00%.
Phillips Edison & Company, Inc. Profile
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Free Report)
Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.
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